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Schenectady, N.Y. -- Metroplex announced today that it has purchased the former OGS Bakery and warehouse facilities at the Rotterdam Corporate Park. Metroplex closed on the purchase of the two buildings and adjoining land for $1 million from the NYS Dormitory Authority last week.
Metroplex Chair Ray Gillen said, “We are pleased to move forward with this latest redevelopment effort to create new jobs and new tax base in the Town of Rotterdam. At 260,000 square feet this former State-owned facility is one of the largest commercial buildings in Schenectady County.”
Under its agreement with NYS, Metroplex will own the building for three years. After three years, Metroplex plans to sell the buildings returning them to the tax rolls.
The Rotterdam Corporate Park is the largest business park in the Capital Region with more than 4 million square feet of space and major tenants including Price Chopper, Railex, Fedex, a Small Business Center, a new rail spur owned by the Schenectady County IDA and many other business tenants. The Rotterdam Corporate Park is located just off Route 7 with great access to both I-90 and I-88.
The sale allows Metroplex to develop approximately 100,000 square feet of space that is currently vacant in the former State facility including ready to occupy bays of approximately 40,000 square feet each. Current tenants in the complex include PJ Foods, J&B Importers, International Blends and New York Rubber Recycling.
Metroplex has already helped to develop almost 500,000 square feet of new commercial tax base in the Town of Rotterdam though its economic development efforts since 2004. When these latest parcels are added to the tax rolls, this will increase to almost 800,000 square feet of space.
In total Metroplex has now added 38 commercial properties to the tax rolls throughout Schenectady County since 2004.
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